26 March 2024: Adani Total Gas shares have experienced price fluctuations throughout 2023 and into 2024. Here are some reasons why the share price might be falling:
- Recent Decline: In December 2023, Adani Total Gas shares witnessed a significant drop, falling over 14% in just two days. This could be due to profit-taking by investors after a period of strong gains, or a broader market correction in the Adani Group companies.
- Market Volatility: The Adani Group has seen increased scrutiny and some volatility in its stock prices. This can be due to various factors, including high valuations and lack of dividend payouts for some Adani companies.
- Profitability Concerns: While Adani Total Gas reported a profit increase in September 2023, some investors might be cautious due to factors like lower industrial gas volumes and dependence on imported gas sources.
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